YESS Fund (Young Entrepreneurs and Start-ups Support Fund)

The challenge

At the launch I described how hard it is for young innovators to find finance, and the Fund was designed to ease that. The idea goes back to the National Young Entrepreneurs Forum in 2019.

My role

As CEO of the Chamber I led its work on the Fund through roughly three years of groundwork, which included consultation with industry experts and regulators. At the launch on 7 September 2023 I set out its origins, credited the Chango App for streamlining members’ contributions, thanked the EU-backed SNV project and called on other partners, governments and organisations to join. The Fund is the Chamber’s, built with its members and partners.

What was done

• Launched a GH¢3 million member-contribution fund for young entrepreneurs and start-ups.
• Received €250,000 from the EU-funded SNV GrEEn project.
• Opened contributions to members through the Bank of Ghana-regulated Chango App.
• Later argued for public backing of the idea. In December 2023, at the 4th National Young Entrepreneurs Summit in Ho, I called on government to create a National Young Entrepreneurs Fund with mandatory budget allocations.

Results and progress

The Fund launched and is operating under a dedicated administrator at the Chamber. The sources reviewed give the launch figures but not a current fund size or lending record, so none is claimed here.